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Hello-
Although it may not be necessary, it would be best to support the engine. I found the easiest way is to tape a 2x4 or other small piece of wood to the head and let it rest against the firewall. I replaced the clutch/rear main oil seal/pilot bearing and encountered several unexpected problems:
1) It is easier to replace the rear main oil seal with the oil pan off. Since removing the transmission is a real pain, you might want to do this while you're under there as well. Getting the pilot bearing out will be difficult without a slide hammer, but you can reuse the retainer just flex it a bit to make sure it's still in good shape before you put it back in.
2) Although the manual says the oil pan can be removed easily, on my GT I had to remove the engine mounts and raise the engine with a jack to get enough clearance from the oil pump pickup.
3) On high mileage cars (such as mine) I found that the rear main oil seal had worn a slight groove into the driveshaft -- be sure to align the new oil seal with the groove or else it WILL leak and ruin your new clutch within a year (trust me!).
4) For best results, use a Volvo clutch or other heavy duty clutch, not whatever they sell you at Kragen or Grand auto, etc. although it is heavier and bulkier it will last much longer. Also don't forget to get the flywheel flattened at a machine shop.
5) My speedo cable unscrewed from the overdrive unit, and required no special tools. The hardest part of the entire operation (in my opinion) is getting to all the bolts on the starter and at the top of the bellhousing for the tranny. After that it's a piece of cake assuming you can get the transmission back into place. Although the M46 is light enough to man-handle into place, it will be much easier to lift it into place with a floor jack.
PS if you are going to let your gf drive your car, be sure to leave the reverse lockout in place. An example of what can go wrong:
Going downhill slowly, you think you put it into first but it's really in reverse and as soon as you let the clutch out you stall the engine QUICK and place severe stress on the entire drive-train.
Good luck!
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